Avalanche (AVAX) Poised for a Rebound as Bulls Defend $19.5 Support
Avalanche (AVAX) continues to trade near a critical support zone around $19.5 as bearish momentum begins to lose strength. While the token has faced persistent selling pressure in recent sessions, the flattening MACD and oversold RSI suggest that sellers may be running out of steam, opening the door for a potential short-term rebound.
The 9-day EMA remains below the 20-day EMA, confirming a bearish near-term trend, but with momentum indicators stabilizing, AVAX could be approaching an inflection point. Traders are closely watching the $19.5 region as a key line in the sand — a successful defense here could trigger a move toward the $20.5 and $22.4 resistance levels.
Order book data highlights strong bid walls at $15, $10, and $9, reflecting significant buying interest below current prices. On the upside, heavy ask walls at $19.81, $24, and $28 suggest that any recovery will need sustained volume to break through layered resistance. A breakout past $24 could catalyze a 20% or greater rally.
In the short term, holding above $19.5 could present a favorable risk-reward entry for bulls, while failure to maintain this level might invite further downside toward $18.7 or even $15. For now, traders should remain cautious but alert — AVAX appears to be entering a zone where volatility could spark its next major move.
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